Forex Robots – Are They Just Hype?

The Currency Exchange or Forex market is the planet's largest trading market with around three trillion dollars traded each day. The Forex has now become available to all and now you can open an account on the Currency Exchange with as little as fifty dollars. There are lot of ordinary people making inordinate sums of money but there are many more losing money because they do not know what they are doing.

The Forex market is complex and it months of dedicated study to understand how it works and all the different signals that you require to forecast a winning trade. It's not for those of a nervous disposition and so Forex robots have materialized claiming that they will make profitable trades on the market for you on auto pilot.

What is a Forex robot and what can it do for you? If you trade manually on the Foreign Exchange market is hard work and involves a number of decisions such as what pairs of currency to trade, do you need to sell or buy, the limits you need to set and many other factors. Often times new traders will win and lose significant sums of money based on instinct or emotion. A Forex robot will automatically make these judgments for you based on mathematical calculations applied to changing market situations. Emotion and gut reactions are totally eradicated.

The robots will analyze the current market data and make all the trades on your behalf. Once they have made the trades they will follow them to be certain they are positive and if they start moving in the opposite direction they will finish the trades to stop a big loss.

The concept of purchasing a software program that takes all all of the experience and knowledge needed to trade successfully on the world's biggest market and have it continuously working hard at making money for you while you sleep, is very appealing to most people. But there are some very important facts that you have to know about Forex robots before you spend your money.

Unfortunately they don't all work as well as they claim. Users of some of the various robots previously have stated that initially they make some winning trades with them but as time goes on these turn into negative trades. What's the reason for this? Well the most common reason is that most of the robots cannot cope with the vast number of changing variables of the currency exchange market. The second problem is that they do not focus on particular specific pairs of currencies to find profitable trends but try to cover the entire market.

So are there any continuously profitable Forex robots? In truth there there are a very small number that do. The reason that these work and the majority don't is that they have been subjected to many years of testing resulting in continuously profitable trades. Also they only focus on a small number of currency pairings such as the Euro against the Dollar. They also have regular updates which ensure that today's market changes and those in the future are precisely forecast. 

Can you make consistent profits on the Forex market without any training using automated software? Yes you can if you make the correct choice among the multitude of Forex robots out there.